Discussion and implications

Abstract

This dissertation aimed at better integrating external actors into strategy process research. First, we looked at the impact of regulatory actors on corporate resource allocations, internal alignments and external responses following regulatory involvement (see chapter 6). Then, we tried to generalize our findings in an integrated neoinstitutional framework and to extend existing research (Burgelman, 1983b; Burgelman, 1991; Hensmans, 2003) toward a boundary model of the co-evolution of corporate strategy and industry (see chapter 7). Finally, we reflected on the role of market and non-market components for strategic management and we elaborated on possible coordination issues. While the stand-alone findings of chapter 6 are intended to contribute to extant research on their own, we also tried to lift those results to a higher general theoretical level in chapter 7. All throughout our research, we used neoinstitutional theory to explain the impact of external actors on strategy formation and the role of corporate management in the creation of the environment. The use of this rather novel theoretical lens for strategy process research proved to be very helpful due to the fresh and powerful perspective on strategy formation.